The Portland daily press., 1887-02-01
FINANCIAL AND COMMERCIAL.
STATE OF TRADE.
CFrOm Bradstreet's Of Saturday, Jan. 2o)

rfom bIaostreets OF saturday, JAN 2o.)
Special telegrams to Bradstreets report mod
crate Improvement In the movement of merchan
disc In the lower Mississippi valley, as well as in
the regions tributary to Chicago and Kansas CITY
1t had been retarded previously by the condition
of wagon roads and the weather. The former has
tended to check mercantile collections tbrouph
decreasing the volume of interior retail trade.
At New York and elsewhere general trade has
been greatly obstructed and depressed by the
strikes OF the New Jersey coal handlers long
shoremen and other freight handlers of New York
and Brooklyn. Delivery Of produce on contract
at New York has been rendered difficult, and f.
nancial as well as commercial and Industrial
and transportation interests have been seriously
affected. The number Of men on strike at New
York, Brooklyn and Jersey City, excluding the
5000 Jersey coal handlers, is reported to be 27.-
S0o Labor troubles appear unusually prominent
at the east and are widely scattered, affecting
chiefy the boot and shoe, textile, coal and ship
ping interests.
The public interest in the Interstate Commerce
bill has induced Bradstreets to make careful re-
view of the provisions of the biIl which, taken in
connection. with the opinions of experts specially
contributed. indicates that the effect of the bill
upon existing rates is difficult to determine, so
much depends upon the construction TO be given
to the law by the Commission. With regard to
the effect upon traffic agreements and pooling the
conclusion is reached that while pooling is prohb
tied, traffic agreements as such are not. 1t is
also pointed out by Bradstreet's, In view of the
more recent phase of the Canadian fisheries dis
pute, that In the fiscal year 1866 the combined ex-
port and import trade in fish between Canada and
the United States was but 35a per cent. of the
total trade between those countries compared
with ahout npr n 1879 m
;-he decreased total volume OF trade is reflect
ed in a decline of $29,o0o,000 in the total bank
clearings at thirtythree cities for the week end
ed yesterday, as wired to Bradstreet's, the ag-
gregate being sase ,s25, ,o2o against 81 01s ,e75-
276 last week and S8s7,0S6, ,220 in the fourth
week OF January, 1886. New York's clearings
gained S4,700,000 on the week, but the following
are decreases; Philadelphia, s9,2oo,ooo; Boston,
S5,300000; Chicago, s4,e0O0oo Kansas City,
S2,s0o,00o, and New Orleans 100000.
The warlikes out look in Europe produced
heavy Liquidation In the London stock market,
and the fall In American securities there
led TO free selling for foreign account here This
with the uncertainty regarding the Interstate
bill" and the labor disturbances, depressed the
New York stock market and gave opportunity for
bear activity, leaving the market duh and unset
tied. Transactions for the week were 81 $685.
S45 shares, against 2, ,191 224 shares the preced-
ing week and 2,o34, ,250 shares the same week
IN 1886. Foreign exchange is high and adyane-
ing under the foreign selling Of stocks.
American pie iron at the east is verv strong at
~ bosS23, a nominal advance of only 50c as
there Is very little spot iron available. The on
cai reports make furnace stocks of pig throughout
the country but half what they were year ago.
Any considerable demand for iron at New York
would put prices up rapidly. Pig at Pittsburg is
25@40c higher to old customers, but at st. Louis
is unchanged. The reported purchase of 10000
tons Of English pig at Chattanooga is officially
ported untrue, but $500 tons having been pur-
chased. Bsr iron is in unprecedented demand,
but makers are rot selling much at present rates,
The anthracite coal companies are to advance
coal prices 81 per ton during the year, though
with less formality than heretofore. Engnsh
steamers will coal abroad for some time to come,
in view Of their experience with New York striE-